Remember how we told you about the crap going down at Midway now that the money has run out? It seems that the people there were paying themselves millions in bonuses for selling off properties like Wheelman and Mortal Kombat. These bonuses were called "outrageous" by the government-appointed trustee overseeing the proceedings and the rest of the people they owe money to. And wouldn't you be pissed if the company that owed you money was paying themselves (the leftover executives still there) almost $4 million in bonuses while closing up shop?
After being spanked by trustee and creditor committee, Midway has changed their tune a bit on the bonuses. Here's a quick breakdown:
- No cash bonus to execs for the sale of Wheelman as that was already done/filed
- No more bonus for just selling Mortal Kombat. They have to sell it all now
- Bonus amount dialed back to less than the original $3.755 million
- Bonuses only paid to those still employed
- CEO Matt Booty won't get paid a bonus now
So cashing out before they clock out for good won't be as easy anymore.
And it looks like the stuff will sell -- or at least that's how it sounds from what we've heard. If what Destructoid has learned is correct, Ubisoft has been hanging out around Midway Chicago's studios, looking to pick them up. As for the rest, it seems that Warner Bros. may scoop it all up. Apparently execs from both companies have been making trips to the Midway offices.
Dale North is Destructoid's Editor-In-Chief, a founding editor, and specialist in Japanese gaming. An accomplished musician, Dale was reporting from Japan during the earthquakes of 2011. Luckily, he got the fuck out alive and is home in America now with his wife and beloved corgi, Einstein. Dale is also a co-founder of Destructoid's sister anime site
Japanator. Likes Corgis, Sega Saturn, PSP, iPhone, Photographic tools.
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Contest:
5:40 PM on 03.31.2009
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You can't be educated and God-fearing at the same time, they cancel each other out.
Anyway, I read this on Kotaku the other day, which stated alot of legal mumbo jumbo which pretty much stated that the Midway's decision of giving themselves bonuses was somewhat illegal.
Well, at least those niggards aren't getting away with this.
I was thinking the same thing. I can't imagine how it was like to grow up with Booty as a last name.